Frontier secures FCC approval for Chapter 11 restructuring

18 Jan 2021

Frontier Communications has announced that it has secured approval from the Federal Communications Commission (FCC) for its Chapter 11 restructuring. Frontier now has regulatory approvals, or favourable determinations, for its required change-in-control applications related to its court-supervised restructuring from the FCC and 13 states, namely: Arizona, Georgia, Illinois, Minnesota, Mississippi, Nebraska, Nevada, New York, Ohio, South Carolina, Texas, Utah and Virginia.

The telco notes: ‘Frontier expects to promptly consummate the transactions contemplated under its previously confirmed Plan of Reorganisation and emerge from Chapter 11 in early 2021. Upon emergence, Frontier will have reduced its total outstanding indebtedness by more than USD10 billion and will move forward with enhanced financial flexibility to support continued investment in an improved customer experience and long-term growth.’

United States, Frontier Communications